LONDON: SIMEC Atlantis Energy Limited (SAE), the global developer, owner and operator of sustainable energy projects, has signed a contract to supply tidal generation equipment and offshore construction services to Japan’s Kyuden Mirai Energy (KME) for a demonstration project in Japan. The project, located in the straits of Naru Island within the southern Japanese Goto…
Search Results for: energy industry
Petra Diamonds launches Artisanal small scale mining initiative in Koffiefontein
LONDON: Petra Diamonds Limited, a leading independent diamond mining group and a consistent supplier of gem quality rough diamonds to the international market, has announces the launch of an Artisanal Small Scale Mining (ASM) initiative in the Free State town of Koffiefontein in South Africa. This follows a process of extensive consultation and cooperation with…
CPHGC and GE announce completion of 1,320MW power plant
KARACHI: China Power Hub Generation Company (Pvt.) Limited (CPHGC) and GE have announced successful completion of 1,320 MW power plant in Balochistan, which would lighten up to 4 million Pakistani homes. Under an agreement signed in 2016, GE supplied the project’s engineering, procurement and construction (EPC) contractors Northwest Electric Power Design Institute Co. Ltd. (NWEPDI)…
Tekmar signs agreement to acquire Pipeshield International
LOWESTOFT, UK: Tekmar Group, a market-leading technology provider of subsea protection systems has signed a sale and purchase agreement for the acquisition of Pipeshield International for a consideration of £6.5 million from its founder Steven Howlett. The consideration will be satisfied via £3.0 million in cash and £0.75 million through the issue of 573,833 new…
KE signs $50mn loan agreement with Standard Chartered supported by GuarantCo
KARACHI: K-Electric has signed US$ 50 million loan agreements with Standard Chartered which is supported by GuarantCo to undertake upgradation of power infrastructure including the installation of theft-resistant Aerial Bundled Cable (ABC) as well as smart grid solutions. The financing documents were signed at KE head office by Moonis Alvi, CEO and Rizwan Pesnani, Head…
Wesfarmers completes acquisition of Kidman Resources
PERTH: Wesfarmers Limited has announced the implementation of the Scheme of Arrangement under which Wesfarmers Lithium Pty Ltd, a wholly owned subsidiary of Wesfarmers Limited, has acquired all of the issued ordinary shares in Kidman Resources. With the completion of the transaction, Wesfarmers holds a 50 percent interest in the Mt Holland lithium project based…
Engro Elengy achieves world’s fastest 250 ship-to-ship LNG cargo transfers
KARACHI: Engro Elengy Terminal has achieved yet another milestone of the world’s fastest 250 ship-to-ship transfers of LNG. The Engro Elengy Terminal was a fast-track LNG import solution built to alleviate the energy shortage facing the country. With round-the-clock supply of natural gas at a utilization rate of approximately 98%, the terminal has now handled…
More than 50 countries come together to discuss cooperation and development on BRI
XI’AN, CHINA: The Euro-Asia Economic Forum 2019, with its focus on Participation in the Belt and Road Initiative (BRI) will Facilitate High-level Cooperation and Robust Development, kicked off on September 10th in Xi’an, China. Politicians, business people and scholars from more than 50 countries, including Germany, France, Kazakhstan, and Pakistan, attended the forum. The forum…
SIMEC Atlantis to build world’s largest ocean powered data centre in Scotland
LONDON: SIMEC Atlantis Energy Limited, the global developer, owner and operator of sustainable energy projects, has announced on London Stock Exchange its ambitions for a tidal-powered data centre in the Caithness region of Scotland. The power supply for such a data centre would include electricity supplied via a private wire network from tidal turbines at…
Pakistan to complete 21 years of regular participation at Intertextile Shanghai
KARACHI: At the 25th Anniversary of Intertextile Shanghai Apparel Fabrics, Pakistan will complete its 21 years of regular participation, as 32 Pakistani companies under the auspices of Trade Development Authority of Pakistan (TDAP) are participating in the event. It may be mentioned here despite over 30 percent rupee devaluation, country’s overall textile sector exports declined…
Weir Group secures £100m order for Australian magnetite iron ore project
SYDNEY: The Weir Group, one of the world’s premium providers of highly engineered mining equipment and services, has been awarded a £100 million order to provide industry-leading energy saving solutions to the Iron Bridge Magnetite Project, a joint venture between Fortescue Metals Group Ltd subsidiary FMG Magnetite Pty Ltd and Formosa Steel IB Pty Ltd….
Wood reaches agreement to sell nuclear business for £250 million
LONDON: John Wood Group PLC announced the sale of its nuclear business to a subsidiary of Jacobs for a cash consideration of £250 million representing a multiple of approximately 12.4x based on 2018 EBITDA of £20.2 million. Closing is conditional upon, among other things, obtaining anti-trust clearance from the Competition and Markets Authority (CMA) and…